The Home Down Payment Gift Foundation gives homebuyers presents of up to $30,000 to assist with home purchases. The gift program is aimed at low-to moderate-income buyers. Gifts generally range between three to six percent of the final home sale price, up to $30,000. Applications are available online, and the Foundation promises an answer in 24 hours. In order to qualify, a buyer needs to purchase a house that has been enrolled in the program; the foundation will aid the seller in the enrollment process. The seller is also required to make a donation to the Foundation based on the purchase price of the home (generally, gift amount plus fee of 3.75% of price) , to be used to fund other gifts. Gift funds are wired to the closing agent 24 hours prior to closing. The maximum gift amount is $30,000 or 6%. Seller pays gift amount plus fee 3.75% of price. Contact The Home Down Payment Gift Foundation, Inc., 1700 Rockville Pike, Suite 400, Rockville, MD 20852; 888-856-4600; www.homedownpayment.org
Income Eligibility: None
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